Thursday, November 22, 2012

Debt Ceiling History

Here is a short history of the debt ceiling.  All numbers in billions.

8/5/1997: raised $450 from $5500 to $5950
6/28/2002: raised $450 from $5950 to $6400
5/27/2003: raised $984 from $6400 to $7384
11/19/2004: raised $800 from $7384 to $8184
3/20/2006: raised $781 from $8184 to $8965
10/1/2007: raised $850 from $8965 to $9815
6/30/2008: raised $800 from $9815 to $10,615
10/1/2008: raised $700 from $10,615 to $11,315
2/17/2009: raised $789 from $11,315 to $12,104
12/28/2009: raised $290 from $12,104 to $12,394
2/12/2010: raised $1900 from $12,394 to $14,294
8/2/2011: raised $400 from $14,294 to $14,694
9/8/2011: raised $500 from $14,694 to $15,194
1/30/2012: raised $1200 from $15,194 to $16,394

This latest debt ceiling will be reached about 12/31/2012, but through extraordinary measures, the Treasury will be able hold out through about mid-February 2013.

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